27 April 2011

Ukraine International Airlines - Why all the cloak and dagger?

Hanky Marketing Ltd (British Virgin Islands) could indirectly acquire over 50% of the shares in the recently privatised JSC Ukraine International Airlines (UIA, Kyiv), according to a report by the Antimonopoly Committee of Ukraine.

In the report, the committee announced that it had permitted Hanky Marketing to acquire the shares. Other details about the possible buyer of the stake have not been disclosed.

CJSC Ukraine International Airlines was founded in 1992. It was reorganised as a private joint-stock company in 2010. The company has 18 Boeing 737 aircraft of various models. Its main airport is Kyiv's Boryspil International Airport.

Currently the company's shareholders are UIA Beteiligungsgesellschaft mbH (58.6%), UIA Holding GmbH (25.84%), and Capital Investment Project (15.55%).

Sometimes it is almost a comedy to find out that most deals in Ukraine are covered in mystery.
We Brits have a lot to answer for after creating the tax haven known as the British Virgin Isles.

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